🔸JUST IN: #Bitcoin is about to close the biggest $$$ gain on a monthly candle in its history.
This is more bullish than any month in the last bull market.
"150 years ago, you didn't have to ask permission from the government to go fishing, own a property, build on your property, start a business"
"Now you virtually can do anything without asking for the government's permission first"
"You're a free range human in a tax farm"
"If you still think you're free, you are deluding yourself"
🚨🚨🚨
Show me a man that gets rich by being a politician and I'll show you a crook. -Harry Truman
Nancy Pelosi
Annual salary: $223,000
Net worth: $202 million
Mitch McConnell
Annual salary: $200,000
Net worth: $95 million
Chuck Schumer
Annual salary: $210,000
Net worth: $75 million
Elizabeth Warren
Annual salary: $193,000
Net worth: $73 million
What do you think?
🇷🇺🇺🇸TUCKER: MOSCOW? Nicer than NYC these days
"By the way, it's radicalizing for an American to go to Moscow, to Singapore, to Tokyo, to Dubai and Abu Dhabi.
Because these cities, no matter how we're told they're run and on what principles they're run, are wonderful places to live that don't have rampant inflation, where you're not going to get raped.”
Source: World Government Summit 2024
When you hear the names of legislation or anything done by the government, it is worth remembering that the group that sent so many people to the guillotine during the French Revolution was called “The Committee of Public Safety”, not the “Cut Off Their Heads Committee”
https://t.co/Mi25o31zju
-97%
During the video game crash, sales dropped 97% from $3.2 billion in 1982 to $100 million by 1985.
Developers who saw a goldmine with the success of Atari in the late 70s rushed in to make a quick buck, quickly over saturating the market with terrible quality consoles and games.
Critics were quick to label video games a fad. Like toys they believed consoles were simply part of a hype cycle.
Atari famously buried thousands of ET video games. Big companies like Mattel packed up and left.
So what changed?
Enter Nintendo.
Founded in 1889 as a trading card company, Nintendo found their way to video games initially through licensing before creating their own console, the Color TV Game Series. Effectively a knock off of the Maganavox Odyssey they had licensed. And it crushes in Japan.
So what do they do?
The exact opposite of the rest of the market.
Rather than rush to expand outside Japan they invest in R&D with the mandate:
-Build a console which is at least 1 year more technologically advanced than anything else in the market
-Build it profitably for under $75
-Develop IP that people will love
Nintendo knew the critics had it wrong. The problem wasn’t video games. It was the quality.
They spent the next FIVE YEARS investing in R&D to hit that goal. While building the hardware they also launched a series of arcade games. Most of these were terrible. But one, Donkey Kong, would be a hit. It would not only be adapted as a launch title for the Nintendo Entertainment System (NES), but its “jump man” character would evolve into everyone’s favorite plumber, Mario.
When the NES finally did launch it was a massive success. By 1989 25% of all homes in the US had one.
So what am I getting at here?
1. Gold rushes lead to over saturation and natural corrections
2. Don’t confuse these corrections for quality and hype for a lack of product market fit
3. Quality takes time
4. IP is the most durable path
Onward.
By banning citizens from onchain privacy solutions like Tornado the US gov is giving big tech companies your financial data on a silver platter.
Without protection, it's trivial for meta and friends to scrape all your financial history from public onchain data in order to manipulate you and serve you ads.
We have https for communication. (1990s)
We need https for money. (2020s)
Any nation who bans onchain privacy will become a totalitarian surveillance state, a corporate surveillance state, or both.
The stakes couldn't be higher.
Friendly reminder that NFTs don’t have to always revolve around money
There are plenty of amazing people who are building beautiful communities that aren’t focused on high FP
The sooner we find the balance of both worlds, the more positive this space can become